IRS Extends Reporting Due Dates for 1095 Forms for Individuals

IRS Extends Reporting Due Dates for 1095 Forms for Individuals

The following information was received from our partner Cigna.

On November 18, 2016, the Internal Revenue Service (IRS) announced extended deadlines for 2016 Minimum Essential Coverage (Section 6055) and Large Employer Shared Responsibility (Section 6056) reporting due to individuals in early 2017.

The extended deadlines are as follows:

2016 Forms Sent to Individuals Original Deadline Extended Deadline
Form 1095-B
Form 1095-C
1/31/2017 3/2/2017

 

 FORM 1095-B                                                                                          FORM 1095-C     

Employers and insurers are encouraged to provide the forms to individuals as soon as possible but no later than March 2, 2017.

Income Tax Filing Information 

Individuals who file their 2016 federal income tax returns before receiving their 1095-B and 1095-C forms will not be required to amend their income tax returns once they receive their forms. They should keep their forms, once received, with their tax records.

Important Note

The due dates for filing 2016 information returns with the IRS remain unchanged. The deadline remains February 28, 2017, for those with 250 or fewer forms filing by paper, or March 31, 2017, if filing electronically.

Who’s responsible for Minimum Essential Coverage (MEC) and Large Employer Reporting to individuals?

Applicable Large Employers (i.e., employers with 50 or more full-time and full-time equivalent employees on average during the prior year) are responsible for completing Form 1095-C for Large Employer reporting on the group health coverage they offered full-time employees and their dependents. And if these employers self-fund their medical plans, they should also use the C forms for reporting MEC on individuals covered under their self-funded plans.

Employers with less than 50 full-time and/or full-time equivalent employees that self-fund their medical plans must only report the MEC on individuals covered under their self-funded plans using the B forms.

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